Williams (knee) was officially traded to the Hawks on Saturday, Chris Vivlamore of the Atlanta Journal-Constitution reports.

EDGE Analysis

The announcement is essentially a formality, as the framework of the deal has been in place since Thursday evening. The Cavaliers will receive veteran sharpshooter Kyle Korver from Atlanta, while sending Williams, Mike Dunleavy and a future first-round pick back to the Hawks. Williams, who underwent a knee procedure in October, has not played this season, and he'll likely be waived at some point.